TD Ameritrade 300

Robinhood DRIP: Dividend Reinvestment Program


Robinhood dividend reinvestment plan fee, commission, fractional shares. Robinhood DRIP plan enrollment for stocks, mutual funds, ETFs, and ADRs. Is it free?



Robinhood DRIP Plan


Right now Robinhood does not offer DRIP - dividend reinvestment plans.


Robinhood Advantages


  • Commission free trades on U.S. listed securities
  • Easy-to-use mobile application
  • Real time market data
  • Smart notifications sent directly to smartphone
  • Fast execution on trades
  • Easy to set up account
  • Straightforward pricing and fees
  • App is optimized for the Apple watch


Robinhood Disadvantages


  • No dividend re-investment plan available at this time
  • No desktop trading platform
  • Limited stock and mutual fund research capability on mobile app
  • Does not offer IRA, Health Savings Accounts, or 401k accounts
  • No brick and mortar stores
  • No options trading, mutual funds, or bonds


Robinhood Account Review


Read detailed Review of Robinhood Trading

Robinhood is a new online brokerage company that offers commission-free trading on their advanced mobile app. Unlike other traditional online brokerages, Robinhood does not offer clients a website to trade stocks. Robinhood is a mobile-app only brokerage account. Robinhood has no brick and mortar stores. The app is simple and well designed, but currently only offers brokerage accounts. The firm does not offer IRA, HSA, or 401K accounts.





Robinhood Mobile App


Robinhood only offers commission free trades through their mobile app. Unlike other large online brokerages, the Robinhood mobile app lacks in-depth analysis of individual stocks and mutual funds. On the other hand, setting up an account and linking a bank account to the mobile app is an extremely easy process.

Secure sign and and PIN requirement ensures that the account is only accessed by the account owner.


Robinhood Brokerage review


Very basic overview of equity positions including shares owned, equity value, average cost and day’s percentage changed


Robinhood Brokerage account review


Compared to other online brokerage apps, the Robinhood app does not feature detailed information on equities. For the investor looking for a commission free trading platform it does provide enough basic information, but more advanced investors will have to go elsewhere to research analyst estimates and option chains.


Robinhood Investing review


The account overview is very basic and shows stocks, stocks + cash, buying power, uncleared deposits, unsettled funds, reserved cash, and withdrawable cash.


Robinhood Broker review


One of the best features of the Robinhood trading app is the ease at which clients can set up accounts, link accounts, and transfer money to and from banks.


Robinhood Investing App review


Robinhood features a smart notification setting to alert account holders of stock splits, news announcements, and dividends.


Customer Service


Robinhood is very slow to respond to inquiries and questions over emails. They do offer non-toll free phone number to call during market hours.


Research


Research is lacking on the Robinhood mobile application. Other than very basic information about stocks, clients will find themselves consulting other sites before purchasing stocks. This limited research power allows Robinhood to provide commission free trading.


Brick and Mortar Stores


Some of the larger online brokerage houses offer brick and mortar stores where clients can receive advice and tips on their investments. Robinhood does not have a single physical store. This is another cost cutting measure to provide commission free trades.


Summary


For investors wanting commission free trading on a simple mobile application platform, Robinhood is the best option. For any serious investing one should look at the other online brokerages.


Updated on 9/7/2017.



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